The short answer to this question is YES, you should.
Though you think you have enough knowledge about real estate, there are many reasons to hire your own agent.
A house is likely to be the largest purchase you ever make. Don’t assume you can learn enough from family and friends to get you through this transaction successfully. Instead, find an agent that’s familiar with the area you are interest in, who can provide experience and knowledge.
While many agents advertise they’re dual agents, keep in mind that the listing agent will put the seller’s interests first. You need an agent of your own, as the buyer, who will watch out for your interests and essentially become a buffer between you and the seller’s agent.
Your agent will offer guidance and expertise from helping you find the perfect home to closing on the deal.
Below are some of the top reasons to seek a professional real estate agent of your own.
- To start with, you might find a home online that piques your interest, however you do not know anything about the school system, crime rate or rate of development in the area. An agent will provide this information to help you decide if this is even the right neighborhood for your family.
- To view a home you are interested in without your own agent, you will be limited to open houses or setting up a meeting with the listing agent. If you hire a buyer’s agent, they will be able to set up showings for you on a more private basis and they will have access to listings before they are made public, which might give you the upper hand, so you do not have as much competition.
- The agent will be able to provide comparable sales data, the average cost per square foot, and how many days on the market and sales history. While you might be able to obtain this information on your own, it would be very time consuming.
- First time homebuyer? Moving to a new location? Experienced agents have taken the time to network and have forged relationships with other professionals. They’ll provide recommendations for services you’ll need such as mortgage lenders, inspectors and electricians just to name a few.
- Your agent will create, process, review and scrutinize your paperwork and legal documents for you. They are responsible for creating pricing strategies and proposals, reviewing legal documents for loopholes, and essentially take care of the enormous amount of paperwork required to purchase a home. This will not only protect your interests but could save you an unbelievable amount of time and heartache. Finding a buyer’s agent can be as simple as driving around the neighborhood and looking at real estate yard signs.
Finally, do not dismiss the need to hire your own agent because you believe you can save money. When deciding on the price to list the home, the commissions are factored in; therefore, there is not an out-of-pocket expense to the buyer for hiring the agent.